How to get paid by bitcoin
Contents:
You can do this through one of the many cryptocurrency exchange services.
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Do your research and get the best possible price for bitcoin at the moment. You can buy bitcoins using your credit card or a bank account.
Accepting payments in cryptocurrency is a trend on the rise.
Just provide the exchange service with your bitcoin wallet address and the transaction will be completed in minutes. If an online merchant has the option of Bitcoin payments, you just need to copy their Bitcoin address and paste it into a designated field on your wallet.
Just make sure that you always type in the exact amount as displayed in the payment window. The transaction should be completed in a couple of seconds. If you need a list of some of the best companies that are Bitcoin-friendly today, check out our infographic below.
How to get paid in bitcoin or another crypto
About the Author: Nick Galov is a geek who combines his love for reading, writing, and editing with technology. He is an expert advisor at spendmenot. There are a lot of crept wallet some are centralized meaning you give custody of your bitcoin as if you were putting money in a bank. Just be mindful that the 2nd option that is more advantageous requires more discipline.
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I have a company that wants me to pay with bitcoin. Staff must be made aware that "there's no guarantee that its price will rise and there's no intrinsic value because there's nothing to back it up", he said, adding such schemes could never be compulsory. Despite repeated warnings from renowned economists and analysts that a Bitcoin crash is looming , it seems more of us are willing to take a punt.
Bitwage, a platform set up to convert salaries into cryptocurrency, gained thousands of new users this year as people got swept up in some rapid price rises.
Bitcoin: Would you want to get paid in cryptocurrency?
Many of these workers had signed up for the service on their own. That is because people can theoretically reduce the risks of volatility because they "only buy little bits over time". It is a tricky one to generalise, and it seems inevitable that as the industry develops, so too will the tax rules. Wherever they are in the world, employees will usually be liable for income tax due on their Bitcoin wages, calculated on its value at the time the salary is paid. But just like with stock options, employees may need to pay capital gains tax if their Bitcoin has risen in value, depending on the tax jurisdiction.
In this article, we will layout the simplest ways (other than purchasing) to gain. Freelance Marketplaces.
Some companies working in the cryptocurrency industry have been offering Bitcoin salaries for years. After all, if you got in early and bought when the price was much lower, then it could be a smart move to use it now to pay wages.
And so it hopes that if at least some employees have direct personal experience of Bitcoin, it will help with "nurturing and developing cryptocurrency literacy". And that, it says is "vital to the growth and expansion of our cryptocurrency business". At the Singapore based blockchain company TenX, staff usually have their base salary paid into their bank accounts, but their monthly bonus is paid in Pay tokens, the firm's own digital currency.
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TenX co-founder and president, Julian Hosp, said it did not make sense to buy Bitcoin to pay bonuses when the company already had its own currency. Paying bonuses in tokens can incentivises staff as Pay's value should rise in line with the company's success, Mr Hosp added. TenX community manager, Mike Ferrer, has gone further and opted to receive part of his base salary in Pay, on top of his monthly bonus. The year-old has been investing in cryptocurrencies for some time, and accepts that there are huge risks, but says he only invests what he can afford.
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Bitcoin freeze as insider trading probed. So how would you feel about getting paid in the high profile cryptocurrency? But what will it really mean for employer and employee? How does it work?